Grey Group Beefs Up Digital with Vinyl-I Acquisition

Global communications network, Grey Group, has acquired a majority stake in Vinyl-I, a creative digital agency establish in 2000 while based in Seoul, South Korea. The brand incorporates new media technology to enhance the user experience, mainly in the area of interactive design.

The firm’s stable of clients includes GS Shop, Intel, L’Oreal, Lotte, Microsoft, Naver, Nike, Samsung, SK Telecom, and SM Entertainment. As at 31 December 2014, it reported gross revenues totalling KRW12.8 billion which is the approximate equivalent of £7.3 million.

Meanwhile, it achieved gross assets in the region of KRW4.2 billion (approximately £2.4 million) across the same calendar year. The network employs more than 70 people. The move propels WPP towards its goal to develop in markets and sectors which strengthen its digital capabilities.

In South Korea, WPP companies generate revenues of over $300 million (around £208 million) and employ around 1,500 people. In the Asia Pacific region, WPP companies generate revenues of $5 billion (around £3.5 billion) and employ around 50,000 people.